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Month-to-date financings in May totalled $106.6 million; led by the $20
million One Net financing. So far, there have been 18 financings in May,
with 10 deals greater than $5 million and only five less than $5 million.
There have been two financings greater than $10 million (Cyberplex and One
Net), with the capital raises by Imeem and EveryZing close behind at $8.8
million and $8.3 million, respectively. The average value thus far in May is
$5.9 million, slightly below the average value for April of $6.5 million on
21 financings. The March average was $6.6 million on 24 financings. Except
for two deals (Kaixin001.com and Collective Media), all were below $20
million for the last three months and a total of four deals were greater
than or equal to $15 million.
*One Net’s $20 million financing is largest deal in May: *One Net announced
a $20 million financing last week, the largest deal so far in May. Ten of
the 18 deals in the month are equal to or greater than $5 million. For
additional details, see Figures 23 and 24 (at end of note). Also note that
the spin-off of StumbleUpon from E-bay on a $29 million valuation occurred
in May. E-bay had bought StumbleUpon for $75 million.
*A strong price performance week: *The companies in our universe had
relatively strong stock price performances over the past week (for stocks
with prices greater than $1) (Figure 6), with 31 companies showing positive
returns on the week. OpenWave Systems (NASDQ:OPWV) led the group with a
49.2% return, while DigitalTown (OTCBB:DGTW) had the worst return, dropping
35.0% in the week.